2.5 LG Interview (Siwan Ryu)

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En provenance du cours de Yonsei University

Intro to International Marketing

214 notes

Yonsei University

Intro to International Marketing

214 notes

Cours 1 sur 6 dans Specialization International Marketing & Cross Industry Growth

About this Course This course brings together two key subjects, International Marketing and Cross Industry Innovation. It will provide the basic foundations of international marketing and then explain how companies can grow by going abroad or sourcing ideas/expanding into other countries or industries. This is summarized as CCCI: Cross-Country and Cross-Industry Innovation, a term and analytical platform used throughout not only this course but others in the specialization. As an introductory course, we keep the concepts short and simple in order to ease learners into the wonderful world of international marketing. More specific operational aspects such as managing the product, price, place and promotion as well as targeting and positioning will be provided in the second course of the specialization. After you successfully complete this course learners will obtain the following outcomes: (1) an understanding of the core meaning of marketing and international marketing. (2) learn that international marketing is about striking the right balance between maximizing the similarities across cultures (Etic approach) and customizing marketing (Emic approach) to important local differences. (3) learn about how to source or expand into other industries at home or abroad via cross industry innovation. (4) obtain a solid foundation for subsequent courses such as course 2 (International Marketing Entry and Execution) and the industry-specific courses in the specialization.

À partir de la leçon

What is Marketing Strategy?

After completing Video 2.1 successfully, you will be able to explain marketing strategy basics and avoid marketing myopia. You will also be able to use the VSA framework tool in order to find weak signals and help your company survive market tsunamis. Next, in Video 2.3 you will learn a key concept called "Transing" which is a strategy for coping with change in the corporate environment. We apply "Transing" not only to brands, such as Starbucks, but also to individuals, such as Professor Dae Ryun Chang to illustrate how we can transition when aspiring for loftier long term goals. Transing then sets you up for Video 2.4 and the core concept of Cross Industry Innovation -how companies can source ideas or expand into different industries. In the last two videos, you are given the opportunity to hear from two experts in the field: (1) Mr. Siwan Ryu discusses how Mosquito Away, a major new product was developed at LG Electronics with cross-disciplinary collaboration and (2) Ms. Hye-Won Lee talks about how Swarovski's new product ideas such as wearable jewelry was sourced from other industries.

2.1 What is Marketing Strategy?13:30

2.3 Transing11:16

2.4 Cross Industry Innovation12:02

2.5 LG Interview (Siwan Ryu)9:07

2.6 Luxury Marketing Interview H. Lee1:33

Rencontrer les enseignants

Dae Ryun Chang
Professor of Marketing
School of Business

I'm now joined by Mr. Siwan Ryu who is a Senior Manager at LG.

And he has a wealth of experience marketing LG products in Indonesia,

South Africa and other countries.

Let's dive a little more deeply into the mosquito away success story.

What were some of the difficulties that you encountered when you first

developed this product?

>> It's not so difficult to find some insight for function or

insight for the future to be adopted in our product.

It's not so difficult, but you know very well we

have to appreciate our R & D first, internally.

If we fail to appreciate our R & D internal decision makers,

then we cannot try.

>> Right.

>> We cannot try to prove the product to our consumers.

>> Right, and that's an excellent point because I think people don't know that

a lot of the marketing has to be internal as opposed to external.

So how did you convince them?

How did you persuade them that this was the right product for Indonesia?

>> Every day I fought, but I failed, >> [LAUGH]

>> Every day I failed.

They didn't accept, they didn't want to believe.

>> Okay.

>> So they requested the evidence first.

But, as you know very well, the marketer is not a researcher or engineer.

>> No, no. So I,

considered very much on how to proceed.

How could I show evidence?

So I tried several simple device

of the ultrasound device and I installed many houses including my house.

>> So, you did a lot of the research yourself?

>> Yes.

>> Wow. >> Before,

they requested the formal evidence first but I don't have a formal evidence.

If I persuade, then they can proceed the test.

But before the test, I have to persuade them first.

So including the Vice President, Mr.

Lee, I installed myself the ultrasonic device.

Several days ago, one month later, they said the mosquito died.

So at that time, I was more than happy.

And I relayed the informal test report to my colleagues and

research center, so day by day after six months or

almost one year I appreciate that they step by step they listened to my voice.

>> Okay. That's a very intriguing story in terms of

how as a marketer you have to do part of the research and development yourself.

>> Yeah, I had no choice at the time, sir.

>> Okay. >> I had to prove myself first.

>> Okay, and

how did you convince the local partners that this was the right product for

Indonesia, because I think there should have been other products like that.

But how do you convince them that this is for real?

>> Yes. >> That this genuine?

>> Yes.

One of the aspects they made collaboration

with our suggestion is they are seriously

suffering from the Dengue fever.

>> Okay. >> So they should do something against

the Dengue fever, the social issue.

So already they were ready to collaborate with our section.

And the second, we approached very scientifically.

Scientific way to prove and to contribute to prevent this dengue fever.

Not only for the commercial reason or

a commercial style, but also how to contribute

the local society to get over this kind of

very critical and distinct catastrophy.

>> Let's also talk about media strategy.

So what were some of the media channels that you'd used?

Was it just TV?

Or was it PR?

Was it the scientific press?

What was some of the strategies involved there?

>> Of course the most expensive and most powerful advertisement

marketing marketing tool is TV advertisement.

And in Indonesia,

it's the biggest marketing tool.

But this kind of feature,

local feature, is very difficult.

>> Right, exactly.

>> To show, just keep it at the advertisement end,

to persuade the consumers.

>> And it has to be authentic.

>> Yeah, yeah.

>> So if people tend to not believe your claims.

>> Yes.

Just the 20 seconds and 30 seconds.

This product can eliminate the mosquito so you buy it, but they don't believe.

So we maximized the PR activity.

PR is endorsed by third party.

Third party of the government.

Where Anti-fever association, or

university, or the anti-dengue,

investor, compliment investor.

Her name is Tika.

Tika is a doctor.

>> Okay. >> But she lost her

only daughter by dengue fever.

So, since she lost her daughter from dengue fever,

she educated herself to the entity investor.

>> She's a symbolic figure in Indonesia.

>> Yes, so we invited that investor to our anti-Dengue

air-conditioning investor, too.

So she accepted from the bottom of her heart.

So she endorsed, and

most of the site started to believe.

>> I see, so when she says it's for real, it will resonate among Indonesians.

>> Yes.

>> Okay, lastly, what about pricing?

As a developing country, is price an issue?

How do you make it more affordable to many people

that may need such an air conditioner?

>> Of course sir, the cost increased.

So we had no choice, we have to increase the price more than,

almost double from the normal air conditioner.

But incredibly,

the still poor society in Indonesia, but they accepted it.

>> Okay.

>> From the bottom of their heart, they started to pay.

Even the parents, the mother and

father who have the small kids,

they saved the money from other consuming and

they were ready to pay the double price for their kids.

>> I see, I see.

>> So sometimes, we faced the short, part of the short in every shops.

They booked and that they sometimes in a row they rated something like the apple.

Apple >> Wow, really?

>> Like that, they paid double the price.

>> So, despite the increase in terms of cost in price, consumers saw the value.

The benefit of the product as being worth it.

>> Yes, and most of the parents, mothers,

fathers who bought anti-Dengue air conditioner,

they're satisfied after buying the product.

>> Okay, thank you very much.

>> Thank you sir. >> It has been very interesting.

>> Thank you sir.

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